[mjp]

why hasn't the massive money printing by the central banks of the world resulted in higher prices.

According to the formula, mv=d, an increase in the money supply leads to an increase in demand. According to the formula, p=d/s, an increase in demand leads to an increase in prices. But when the economy is in a severe recession or a depression, there is a natural tendency for prices and wages to fall. The current low increase in prices of the current recession is the product of these two offsetting pressures.

[TArcher]

>>The current low increase in prices

What Ivory orifice did you pull ~that out of, Professor?